NEIGHBORHOOD ASSISTANCE PROGRAM (NAP) through Adult Life Training, Inc.

If you donate to certain public charities then Indiana will give you a tax credit equal to half of your donation, so effectively it costs you half as much to help that charity. This is one way that Indiana encourages Hoosiers to donate and charities to perform certain desirable work, such as employment training or affordable housing. The public charity provides a letter to you as instructed by The Indiana Housing and Community Development Authority, which you use on your Indiana individual tax return to reduce your State income tax.

Per The Indiana Housing and Community Development Authority rules, we must give away 60% of our remaining $3,808 NAP tax credits to donors before the end of December 2018.   If you would like to support our work and receive half your donation back as a tax credit, this is the time to donate. Our PayPal donate button is on the right, or checks can be mailed to us at Adult Life Training, Inc., 3301 E Coliseum Blvd, Fort Wayne, IN 46805.

Donations must be at least $200 to qualify (because the minimum NAP tax credit that we may give is $100). The Indiana Housing and Community Development Authority provides more information:

graphic of IHCDA NAP Information

IHCDA NAP Information

 

FROM: Indiana Housing & Community Development Authority • www.in.gov/ihcda/ihcda • (317) 232-7777

SUBJECT: NEIGHBORHOOD ASSISTANCE PROGRAM (NAP) through Adult Life Training, Inc.

WHAT IS NAP?

The Neighborhood Assistance Program (NAP), established by Indiana Code 6-3.1-9, offers $2.5 million in tax credits ($40,000 maximum per organization) annually for distribution by not-for-profit corporations. Organizations use NAP tax credits as an incentive to help them leverage more contributions from individuals and businesses for programs and services benefiting economically disadvantaged households or communities.

HOW DO THE CREDITS WORK?

Organizations, corporations and individuals are each eligible to make a contribution* to a NAP agency. When they do, they will receive a tax credit on their Indiana taxes worth 50% of their contribution. For example: If an individual contributes $1,000 they will receive a $500 Indiana tax credit. Donations are reported to the Indiana Department of Revenue (IDOR) and a credit is given to the donor’s state tax liability.

WHAT ARE ELIGIBLE CONTRIBUTIONS?

• Cash
• Check
• Credit Card
• Stock (which has been liquidated)
• Contributions designated through United Way
• In-kind donations** (exclusively building materials)
• Property donations

*No single contributor may donate more than $50,000 in a calendar year. Contributions of amounts smaller than $200 will only be accepted if the awardee’s remaining credit balance is less than $100 .
**Services (sweat equity), supplies and equipment are not eligible in-kind donations.

WHAT ARE ELIGIBLE PROJECTS?

• Affordable Housing
• Counseling
• Child-care
• Educational Assistance
• Emergency Assistance
• Job Training
• Medical Care
• Recreational Facilities
• Downtown Rehabilitation
• Neighborhood Commercial Revitalization

For more information contact:

Adult Life Training, Inc. on the beautiful ALC Campus, 3301 E Coliseum Blvd, Fort Wayne, IN 46805 260.432.0014 x128

or the Indiana Housing & Community Development Authorityhttp://www.in.gov/myihcda/nap.htm • (317) 232-7777



Happy National Entrepreneurs’ Day

A cartoon woman with orange blonde hair that is tied up, wearing a white dress shirt, dark gray suit, black heels, smiles while holding a beige folder in her right hand.

The Entrepreneur, Clip Art by Vector Toons

Entrepreneurs’ Day, an insofar American holiday, was started in 2010 by David Hauser and Siamak Taghaddos. The holiday  is meant to be a way of showing gratitude and respect to the people who achieved success and were able to help a lot of people by creating jobs for them in the process.  Supporters of Entrepreneurs’ Day are trying to make it an actual official US holiday that would fall on the third Tuesday of every November.

See the Happy National Entrepreneurs’ Day post on JDNash.Com at http://jdnash.com/?p=3816&preview=true


First Winning in Money and Life Group of 2019

What could you do with all your money if you could actually keep most of your paycheck?

With Dave Ramsey’s Financial Peace University, you CAN take control of your money. Our next free public Financial Peace workshop starts Tuesday January 8, 2019 at 7:00PM at Adult Life Training, Inc. on the beautiful campus of Abundant Life Church, 3301 E Coliseum Blvd, Fort Wayne, IN 46805. There is a different money topic each week.

This free public workshop has been underwritten by a generous grant from the 3Rivers Federal Credit Union Foundation. 3Rivers is Here for you: here for good. If you’re ready to start a lifelong banking relationship with a local organization you can trust, then 3Rivers is for you.

Register and if you do not already have them buy your class materials at https://fpu.com/1078640. Bring your workbook book to class as we will watch the video then do the examples in class. We dismiss by 9:00PM. There will be coffee. You may bring church-appropriate snacks to share.

At the same time we will have another class, in a separate room, designed exactly for high school teens. The number one reason people quit college is not grades: it is DEBT! When a person leaves high school they are unprepared for the financial challenges they will encounter. Prepare your teen to Win with Money and Life! Bring them with you for their very own FPU-Teen class while you are in FPU.

This free public workshop has also been underwritten by a generous grant from the 3Rivers Federal Credit Union Foundation.

What Teens Will Learn:

Lesson 1: The Basics of Money This lesson will introduce you to the topic of personal finance and give you an overview of the history of credit.

Lesson 2: Don’t Be Normal In this lesson, you will learn that you can change your money behavior by understanding your money personality and the language of money.

Lesson 3: Save That Cash Discover the Five Foundations that start with the importance of having money set aside for the emergencies that will happen in life.

Lesson 4: Watching Money Grow Learn about the mathematical explosion of compound interest that can help you become a millionaire—when it has time to work.

Lesson 5: Take Control of Your Money Personal finance is all about you taking control of your money and telling it where to go and what to do—instead of wondering where it went.

Lesson 6: Working Toward Zero In this lesson, you will learn that a budget is the most powerful tool you have to manage your income and expenses while avoiding debt.

Lesson 7: The Truth About Debt It’s time to uncover the myths related to debt while discovering the truths that will keep you from becoming a slave to payments.

Lesson 8: There’s a Better Way Dave explains that the “normal” way to buy a car and a house will only keep you in debt but there is a better way to do both.

Lesson 9: The Power of Generosity Dave and Rachel talk about the importance of generosity as well as the difference between being an owner and a manager of resources.

Financial Peace University SCHEDULE

Super Saving Tue, Jan 8 7:00 PM
Relating With Money Tue, Jan 15 7:00 PM
Cash Flow Planning Tue, Jan 22 7:00 PM
Dumping Debt Tue, Jan 29 7:00 PM
Buyer Beware Tue, Feb 5 7:00 PM
The Role of Insurance Tue, Feb 12 7:00 PM
Retirement and College Planning Tue, Feb 19 7:00 PM
Real Estate and Mortgages Tue, Feb 26 7:00 PM
The Great Misunderstanding Tue, Mar 5 7:00 PM

Financial Peace for Teens SCHEDULE

The Basics of Money
This lesson will introduce you to the topic of personal finance and give you an overview of the history of credit.
Tue, Jan 8 7:00 PM
Don’t Be Normal
In this lesson, you will learn that you can change your money behavior by understanding your money personality and the language of money.
Tue, Jan 15 7:00 PM
Save That Cash
Discover the Five Foundations that start with the importance of having money set aside for the emergencies that will happen in life.
Tue, Jan 22 7:00 PM
Watching Money Grow
Learn about the mathematical explosion of compound interest that can help you become a millionaire—when it has time to work.
Tue, Jan 29 7:00 PM
Take Control of Your Money
Personal finance is all about you taking control of your money and telling it where to go and what to do—instead of wondering where it went.
Tue, Feb 5 7:00 PM
Working Toward Zero
In this lesson, you will learn that a budget is the most powerful tool you have to manage your income and expenses while avoiding debt.
Tue, Feb 12 7:00 PM
The Truth About Debt
It”s time to uncover the myths related to debt while discovering the truths that will keep you from becoming a slave to payments.
Tue, Feb 19 7:00 PM
There’s a Better Way
Dave explains that the “normal” way to buy a car and a house will only keep you in debt but there is a better way to do both.
Tue, Feb 26 7:00 PM
The Power of Generosity
Dave and Rachel talk about the importance of generosity as well as the difference between being an owner and a manager of resources.
Tue, Mar 5 7:00 PM

Tax Credits Information available from IRS Now

This in email from IRS today. The child tax credits for 2018 has drastically INCREASED over 2018 – working poor and middle class families get about twice as much credit as previously, including for special needs children older than 17. Details on how to get the money are at the IRS link via govdelivery.com. The content of their email is as follows:


Issue Number:    IR-2018- 217


Get Ready for Taxes:
Here’s how the new tax law revised family tax credits

WASHINGTON – More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service.

This is the third in a series of reminders to help taxpayers get ready for the upcoming tax filing season. Additionally, the IRS has recently updated a special page on its website with steps to take now for the 2019 tax filing season.

The Tax Cuts and Jobs Act (TCJA), the tax reform legislation passed in December 2017, doubled the maximum Child Tax Credit, boosted income limits to be able to claim the credit, and revised the identification number requirement for 2018 and subsequent years. The new law also created a second smaller credit of up to $500 per dependent aimed at taxpayers supporting older children and other relatives who do not qualify for the Child Tax Credit.

“As we approach the 2019 tax-filing season, I want to remind taxpayers to take advantage of this valuable tax credit if they are eligible to claim it,” said IRS Commissioner Chuck Rettig. “Tax reform changed the tax code significantly and doubling the Child Tax Credit is an example of how the changes impact taxpayers.”

Here are some important things taxpayers need to know as they plan for the tax-filing season in early 2019:

Child Tax Credit increased

Higher income limits mean more families are now eligible for the Child Tax Credit. The credit begins to phase out at $200,000 of modified adjusted gross income, or $400,000 for married couples filing jointly, which is up from the 2017 levels of $75,000 for single filers or $110,000 for married couples filing jointly.

Increased from $1,000 to $2,000 per qualifying child, the credit applies if the child is younger than 17 at the end of the tax year, the taxpayer claims the child as a dependent, and the child lives with the taxpayer for more than six months of the year. The qualifying child must also have a valid Social Security Number issued before the due date of the tax return, including extensions.

Up to $1,400 of the credit can be refundable for each qualifying child. This means an eligible taxpayer may get a refund even if they don’t owe any tax.

For more information, see Publication 972, Child Tax Credit, available soon on IRS.gov.

New Credit for Other Dependents

A new tax credit – Credit for Other Dependents — is available for dependents for whom taxpayers cannot claim the Child Tax Credit. These dependents may include dependent children who are age 17 or older at the end of 2018 or parents or other qualifying relatives supported by the taxpayer.

During the upcoming tax-filing season, the IRS urges taxpayers to use the agency’s Interactive Tax Assistant to see if they qualify for either of these credits. To find out more, visit IRS.gov.